Student loans have hit a record high of $1.2 trillion, putting a crimp in The American Dream of owning a home and starting a family. And it’s affecting the broader economy too.
For the current fiscal year, the U.S. government is estimated to pay $430 billion in interest on the national debt.
Today marks the end of the federal government’s fiscal year. It’s also the biggest one-day shopping spree of the year– the day when federal agencies rush to spend the last of their money before October 1, before anything left over is returned to the Treasury. Since agencies cannot carry over unspent funds, the idea is “use it or lose it.
I know that headline sounds completely outrageous. But it is actually true. The U.
Nearly nine out of 10 freshmen think they’ll earn their bachelor’s degrees within the traditional four years, according to a nationwide survey conducted by the Higher Education Research Institute at UCLA. But the U.S.
This story was co-published with NPR. Back in 2009, Kevin Evans was one of millions of Americans blindsided by the recession. His 25-year career selling office furniture collapsed.
If so, Italy’s public debt will spiral to dangerous levels next year, ever further beyond the point of no return for a country without its own sovereign currency and central bank. “This is catastrophic for the finances of the country. We’re heading for a debt ratio of 145pc next year,” said Antonio Guglielmi, global strategist for Mediobanca.
JANET LEE DUPREE, 72, was surprised when she received her first Social Security benefits seven years ago. About one-fifth of her monthly payment was being withheld and she called the federal government to find out why. The woman, who is from Citra, Fla.
The idea that the Obama administration has the budget deficit under control is a complete and total lie. According to the U.S.
U.S. consumers have made a lot of progress in paring down the extreme debt loads that helped make the 2008 financial crisis such an epochal disaster.
Carrying tens of thousands of dollars in student loan debt has become the new normal. Thanks to climbing tuition and inadequate college savings, 40 million Americans now have at least one outstanding student loan, according to new analysis from credit bureau Experian. That’s up from 29 million consumers in 2008.
For the first time in the nation’s history, foreign interests now own more than $6 trillion in U.S. government debt, according to the most recent Treasury Department report on major foreign holders of the debt, which includes the numbers through the end of June.
Student debt becoming a larger albatross for economic growth: $1.2 trillion in student debt is outstanding and many college graduates working in jobs that don’t require their degree
There was a time when going to college made sense in every feasible way. It made sense professionally, economically, and many college graduates have a wonderful time in the process of completing their degrees. Most would argue that learning is vital in growing and moving forward.
Last year, $415,688,781,248.40 that had been forcibly extracted from American taxpayers was transferred into other hands. Most of it ended up in the pockets of the global elite. So what did the American […]
Derivatives that helped inflate the 2007 credit bubble are being remade for a new generation. JPMorgan Chase & Co. is offering a swap contract tied to a speculative-grade loan index that makes […]
US is Bankrupt: $89.5 Trillion in US Liabilities vs. $82 Trillion in Household Net Worth & The Gap is Growing
There are many ways to look at the United States government debt, obligations, and assets. Liabilities include Treasury debt held by the public or more broadly total Treasury debt outstanding. There’s unfunded […]
The total federal debt of the U.S. government has now increased more than $7 trillion during the slightly more than five and a half years Barack Obama has been president. That is […]
America’s love affair with debt is starting to be a problem. Consider: Average total debt per American with a credit file stood, in September 2013, at $37,952 in mortgage debt and $15,898 […]
Financial markets went into a tailspin Thursday after Argentina defaulted on its debt, raising fears among skittish investors already fretting over weak corporate earnings growth, rising interest rates and an aging bull […]
Like so many other things in popular American culture, this quaint notion of a “middle class” in the U.S. is at this point nothing more than a myth; a rapidly fading fantasy […]
Did you know that 77 million Americans have unpaid debts that are “in collections” and that Congress is actually thinking about letting post offices offer payday loans? We live in a country […]
A study by the Urban Institute shows that more than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies. These consumers fall behind on credit […]
A month ago we explained why ordinary margin debt (such as that tracked by the NYSE) is largely irrelevant as it completely ignores the leverage of the largest investor class (aside from […]
The global economy is structured to systematically funnel wealth to the very top of the pyramid, and this centralization of global wealth is accelerating with each passing year. According to the United […]
The China-US sorpasso is looming. I do not mean the much-exaggerated moment when China’s GDP will overtake America’s GDP – which may not happen in the lifetime of anybody reading this blog […]
Rodney Durham stopped working in 1991, declared bankruptcy and lives on Social Security. Nonetheless, Wells Fargo lent him $15,197 to buy a used Mitsubishi sedan. ”I am not sure how I got […]
China faces what would be the second default in the nation’s onshore bond market after a builder said it may fail to make a payment next week, the latest sign of stress […]
Even if the economy were growing at a faster pace, it wouldn’t come close to offsetting the interest payments on our ever-expanding debt. If you want to know why the Status Quo […]
Is there any doubt that we are living in a bubble economy? At this moment in the United States we are simultaneously experiencing a stock market bubble, a government debt bubble, a […]
What is the Federal Reserve system? How did it come into existence? Is it part of the federal government? How does it create money? Why is the public kept in the dark […]
Happy Independence Day… But, then again, are we really that independent? Would the Founding Fathers look at us and be proud, or would they bow their heads in sorrow at what our […]
Today is the day that Paul Singer and his Elliot Capital Management team have been waiting for. Thanks to SCOTUS’ decision, as Bloomberg reports, Argentina is poised to miss a bond payment […]